O2 Sponsor Finance Provides Senior Secured Credit Facilities to Support San Francisco Equity Partners in its Acquisition of Formula Corp

Rhea-AI Summary

O2 Sponsor Finance, a division of Old Second National Bank (NASDAQ:OSBC), has announced the provision of senior secured credit facilities to support San Francisco Equity Partners (SFEP) in acquiring a majority stake in Formula Corp.

Founded in 1983, Formula Corp is a leading manufacturer of custom blended cleaning products, specializing in sustainable solutions and eco-friendly packaging. The company offers comprehensive services including R&D, formulation, blending, filling, packaging development, regulatory services, and fulfillment for both consumer and professional markets.

The company serves a diverse customer base including national retailers, consumer product brands, and professional cleaning companies, positioning itself as a key player in the sustainable cleaning products sector.

Positive

• Strategic expansion into sustainable cleaning products market
• Diversified customer base including national retailers and major brands
• Comprehensive service offering from R&D to fulfillment

Negative

• None.

CHICAGO, IL / ACCESS Newswire / September 8, 2025 / O2 Sponsor Finance, a division of Old Second National Bank (NASDAQ:OSBC), today announced that it provided senior secured credit facilities to support San Francisco Equity Partners ("SFEP") in its majority investment in Formula Corp - a leading formulator and contract manufacturer of cleaning products.

Founded in 1983, Formula Corp is an innovative manufacturer of custom blended cleaning products for both consumer and professional end markets. The company provides an array of turnkey services to its customers, including R&D, formulation, blending, filling, label and packaging development, regulatory services and fulfillment. Formula Corp specializes in the formulation and manufacture of sustainable cleaning products and eco-friendly packaging solutions, in addition to private label brand support for its customers. The company's diverse customer base includes leading national retailers, consumer product brands, professional cleaning brands, and industrial and institutional cleaning companies.

"We are excited to partner with San Francisco Equity Partners and the Formula Corp team for this transaction. Formula Corp is a best-in-class contract manufacturer well positioned to benefit from long-term trends in the sustainable cleaning products space," said Nick O'Brien, Senior Vice President, O2 Sponsor Finance.

About San Francisco Equity Partners: Headquartered in San Francisco, SFEP is a private equity firm focused exclusively on partnering with lower middle market companies across the consumer value chain. To each of its partner companies, SFEP serves as an extension of the management team and provides both extensive operating experience and a broad network of relationships across the consumer landscape. For more information, visit www.sfequitypartners.com.

About O2 Sponsor Finance: O2 Sponsor Finance is a national provider of cash flow-based loans to lower middle market businesses with typically $10 to $100 million in revenue and between $2 million and $10 million in EBITDA. O2 Sponsor Finance focuses on supporting private equity sponsors, independent sponsors and family offices in their acquisition or recapitalization of lower middle market companies. www.O2sponsorfinance.com.

About Old Second Bancorp, Inc.: Old Second Bancorp, Inc., headquartered in Aurora, Illinois, is the bank holding company for Old Second National Bank, which celebrated 150 years of operation in 2021. Old Second's common stock trades on The NASDAQ Stock Market under the symbol "OSBC". More information about Old Second is available by visiting the "Investor Relations" section of its website: www.oldsecond.com.

As of June 30, 2025, Old Second has approximately $5.7 billion in assets, $4.8 billion in deposits and $4.0 billion in loans.

Old Second National Bank, Member FDIC.

Contact:

Bradley S. Adams EVP, Chief Operating Officer and Chief Financial Officer (630) 906-5484

SOURCE: Old Second Bancorp Inc.

View the original press release on ACCESS Newswire

FAQ

What is the purpose of OSBC's credit facilities for Formula Corp?

The credit facilities are provided to support San Francisco Equity Partners' majority investment in Formula Corp, a leading cleaning products manufacturer.

What services does Formula Corp offer to its customers?

Formula Corp offers comprehensive services including R&D, formulation, blending, filling, label and packaging development, regulatory services, and fulfillment.

When was Formula Corp founded and what is its specialization?

Formula Corp was founded in 1983 and specializes in formulating and manufacturing sustainable cleaning products and eco-friendly packaging solutions.

Who are Formula Corp's main customers?

Formula Corp serves leading national retailers, consumer product brands, professional cleaning brands, and industrial and institutional cleaning companies.

What is O2 Sponsor Finance's role in the Formula Corp transaction?

O2 Sponsor Finance, a division of Old Second National Bank (NASDAQ:OSBC), provided senior secured credit facilities to support the acquisition.